Rakuten Bank, The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Raises Record High Profit Forecast

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Wed Feb 12, 2025 3:35 pm JST Earnings

5838 Rakuten Bank, Ltd. 【J-GAAP】

Earnings Report

Rakuten Bank, Ltd. <5838> [TSE Prime] announced its financial results after the market closed on February 12th (15:35). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 49.4 billion yen, an increase 40.5% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 6.0%, from the previous forecast of 65 billion yen to 69 billion yen (compared to 48.3 billion yen in the previous period), increasing the growth rate from 34.6% to 42.7%, further surpassing the previous forecast of record-high profits for five consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 11.5%, from the previous forecast of 33.9 billion yen to 37.9 billion yen (compared to 25.8 billion yen in the same period of the previous year), increasing the growth rate from 31.6% to 46.8%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 45.0% from the same period last year, reaching 18.4 billion yen.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2023	101,076	ー	35,236	25,077	144.8	72.9	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	131,709	ー	49,497	35,182	201.6	71.7	Feb 12, 2025	J-GAAP
YoY	+30.3%	－	+40.5%	+40.3%	+39.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	94,936	ー	33,994	24,099	138.1	0	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	99,964	ー	37,917	26,788	153.5	0	Feb 12, 2025	J-GAAP
Revision Rate	+5.3%	－	+11.5%	+11.2%	+11.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	178,592	ー	65,083	46,244	265.0	0	Nov 11, 2024	J-GAAP
Mar, 2025 New	183,620	ー	69,006	48,933	280.5	0	Feb 12, 2025	J-GAAP
Revision Rate	+2.8%	－	+6.0%	+5.8%	+5.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	72,029	ー	25,822	18,339	105.7	0	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	99,964	ー	37,917	26,788	153.5	0	Feb 12, 2025	J-GAAP
YoY	+38.8%	－	+46.8%	+46.1%	+45.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	120,445	ー	38,746	27,692	168.4	0	May 10, 2023	J-GAAP
Mar, 2024	137,950	ー	48,367	34,436	198.4	0	May 13, 2024	J-GAAP
Mar, 2025 Guidance	183,620	ー	69,006	48,933	280.5	0	Feb 12, 2025	J-GAAP
YoY	+33.1%	－	+42.7%	+42.1%	+41.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	35,155	ー	12,691	8,980	51.8	0.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	36,874	ー	13,131	9,359	53.9	0.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	40,815	ー	15,261	10,921	62.6	0.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	42,841	ー	15,828	11,224	64.3	0.0	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	48,053	ー	18,408	13,037	74.7	0.0	Feb 12, 2025	J-GAAP
YoY	+36.7%	－	+45.0%	+45.2%	+44.2%